Institutional Shareholder Services Inc. (ISS), a leading independent proxy advisory firm, has advised shareholders of Forward Air Corporation to vote against the reelection of three board members at the company's 2025 Annual Meeting. The members in question are Chairman George S. Mayes, Jr., Director Javier Polit, and Director Laurie Tucker. ISS highlights these directors' roles in the Omni acquisition, which is seen as a value-destructive decision, and underscores the urgent need for a strategic review process. Shareholders, including significant stakeholder Ancora Holdings Group LLC, express concerns over further potential value destruction and seek to replace the directors to ensure a genuine and thorough review process that maximizes shareholder value.
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